Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: ItsAllCyclical who wrote (82122)	12/19/2000 6:01:47 PM
From: hitsoft17	Read Replies (2) of 95453

JimL, I agree with your assessment of the impact of a recession. If that happens we will all be looking back fondly at NAZ 2000 from a much lower perch! However I tend to believe that the FOMC has their hands on the knobs and can likely impact the trend of things if they sense they made a mistake or things turn quickly for the worst. ( they obviously are starting to worry given the shift today) I recall when the international crisis hit a couple years ago and they came in with two mid period rate cuts and turned the slide around quickly. They can do it again and likely will if they think the need is there. An important issue is can they do it without damage elsewhere......... In any case the earnings season next month without a rate cut today is going to be no fun. I am starting to build cash tommorow if the decline is too severe. Hitsoft17

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